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Latest Nxt Client 1.11.5 - NEW RELEASE: Ardor 2.0.3e TestNet IS LAUNCHED!

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Author Topic: New Community Funds Committee: accounts and updates  (Read 6108 times)

CryptKeeper

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The account is held by neer.g. There is a procedure in place to recover funds if neer.g gets hit by a bus.

 ;D,can you public this procedure? I like to copy it in case I get hit by a bus.

At its simplest it is:
1) Write private key on paper
2) Give paper to wife, girlfriend, friend etc, with recipient contact details and instructions
3) Get hit by bus
4) Wife, etc, sends key by secure email to person on list

There are more complicated versions. Obviously sending the key securely is important so end-to-end encrypted email should be used.

I like this one: https://github.com/cetuscetus/btctool/blob/bip/bip-xxxx.mediawiki

It's called Shamir’s Secret Sharing Scheme:

Quote
A method is described for decomposing an arbitrary secret (for example, a Bitcoin private key, a BIP32 extended private key, or anything else) into shares in a manner such that the secret can be recovered from any sufficiently large subset of the shares but such that any smaller subset does not reveal any information about the secret. This method is commonly known as Shamir's Secret Sharing Scheme, or M of N secret sharing. Additionally, an encoding methodology is proposed to standardize transmission and storage of shares.

I'm using it with mycelium's entropy usb stick paperwallet generator. You get a 3 codes on a printout and need at least 2 of them to recover the secret key (2-of-3, but any m-of-n is possible).

No multi-sig involved!  ;D
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qq2536007339

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The account is held by neer.g. There is a procedure in place to recover funds if neer.g gets hit by a bus.

 ;D,can you public this procedure? I like to copy it in case I get hit by a bus.

At its simplest it is:
1) Write private key on paper
2) Give paper to wife, girlfriend, friend etc, with recipient contact details and instructions
3) Get hit by bus
4) Wife, etc, sends key by secure email to person on list

There are more complicated versions. Obviously sending the key securely is important so end-to-end encrypted email should be used.

I see,I thought this procedure is all automatic.
NXT-DJ68-PG7W-4JEU-2LU5T

Cassius

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A few updates:

The following recurring payment has been made:

Recipient: Lyaffe
Amount: 50,000 NXT
Receiving Account: NXT-D2VW-PG95-WSMF-6FDL8
Tx ID: 5423888544865476445


The following one-off payments have been made:

Recipient: PICISI
Amount: 15,000 NXT
Receiving Account: NXT-N74K-UZXT-RWU2-C6KSX
Purpose: Project funding
Tx ID: 14013992205479920531

Recipient: EvilDave
Amount: 35,000 NXT
Receiving Account: NXT-TMVC-69YC-SJB4-8YCH7
Purpose: Reinvent Money conference cost
Tx ID: 14742938811016865709

Recipient: EvilDave
Amount: 4,825 NXT
Receiving Account: NXT-TMVC-69YC-SJB4-8YCH7
Purpose: Nxt.org hosting costs for Aug & Sep 2015
Tx ID: 12450761209808344306
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Cassius

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Reflecting Lyaffe/Riker's new position as core manager:

The following recurring payment has been made:

Recipient: Lyaffe
Amount: 105,000 NXT
Receiving Account: NXT-D2VW-PG95-WSMF-6FDL8
Tx ID: 7957707759515049497
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Cassius

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Pouncer:

The following recurring payment has been made:

Recipient: Lyaffe
Amount: 105,000 NXT
Receiving Account: NXT-D2VW-PG95-WSMF-6FDL8
Tx ID: 987763330218735296

Thanks Lyaffe (now the artist known as Riker).

A couple more payments to come in due course.
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Cassius

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A couple of bonus payments:

Recipient: petko
Amount: 100,000 NXT
Receiving Account: NXT-P6F5-J7VU-RWHZ-9LXN8
Tx ID: 17086596358373296948

Recipient: ScripterRon
Amount: 100,000 NXT
Receiving Account: NXT-YKDR-R624-MM4S-5ZKQK
Tx ID: 2805215701169688166

Thanks ScripterRon & petko for your contribution to the Nxt core.
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Cassius

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From Pouncer:

The following recurring payment has been made:

Recipient: Riker
Amount: 105,000 NXT
Receiving Account: NXT-D2VW-PG95-WSMF-6FDL8
Tx ID: 11976052056588515705

Happy New Year everyone!

Thanks Riker for all you've done & are continuing to do.
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qq2536007339

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Hi Cassius,is CFC reserve Account(NXT-CQ7X-95HR-RLW5-3UQ46) under your control? If so,can you forging too?
NXT-DJ68-PG7W-4JEU-2LU5T

Cassius

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Hi Cassius,is CFC reserve Account(NXT-CQ7X-95HR-RLW5-3UQ46) under your control? If so,can you forging too?
A couple of bonus payments:

Recipient: petko
Amount: 100,000 NXT
Receiving Account: NXT-P6F5-J7VU-RWHZ-9LXN8
Tx ID: 17086596358373296948

Recipient: ScripterRon
Amount: 100,000 NXT
Receiving Account: NXT-YKDR-R624-MM4S-5ZKQK
Tx ID: 2805215701169688166

Thanks ScripterRon & petko for your contribution to the Nxt core.

No, not under my control. I'll pass the message on though.
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Cassius

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The following one-time payment has been made:

Recipient: petko
Amount: 20,000 NXT
Receiving Account:    NXT-ENC5-RJ4B-W58H-EVCUJ
Tx ID: 3920463256034569124
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Cassius

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The following recurring payment has been made:

Recipient: Riker
Amount: 105,000 NXT
Receiving Account: NXT-D2VW-PG95-WSMF-6FDL8
Tx ID: 4629599139822729396
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Cassius

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The following recurring payment has been made:

Recipient: Riker
Amount: 105,000 NXT
Receiving Account: NXT-D2VW-PG95-WSMF-6FDL8
Tx ID: 2596327465973820257



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Cassius

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The following recurring payment has been made:

Recipient: Riker
Amount: 105,000 NXT
Receiving Account: NXT-D2VW-PG95-WSMF-6FDL8
Tx ID: 2596327465973820257




Cheers Riker!
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johnlavas

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From Pouncer:

The following payment has been made:

Recipient: HolgerD77
Amount: 7,500 NXT
Receiving Account: NXT-AQ9F-JC4F-NCM2-4JSXZ
Tx ID: 11397110888126688179
Purpose: Payment to HolgerD77 to partially cover bounty payments for the 1.5 client translation.

As ever, thank you Holger.
i WANT TO JOIN THE NEW COMMUNITY FUND

Cassius

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From Pouncer:

The following payment has been made:

Recipient: HolgerD77
Amount: 7,500 NXT
Receiving Account: NXT-AQ9F-JC4F-NCM2-4JSXZ
Tx ID: 11397110888126688179
Purpose: Payment to HolgerD77 to partially cover bounty payments for the 1.5 client translation.

As ever, thank you Holger.
i WANT TO JOIN THE NEW COMMUNITY FUND

wHAT DO YOU MEAN?
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Cassius

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Pouncer is stepping down in his role as Treasurer (thanks for all your work, Pouncer), which also means there's a good opportunity to overhaul the way we do our accounts.

Quote
1. Transferred the remaining balance (1'364'037 NXT) from CFC Account#1 (NXT-NDPN-KL88-G9CA-45PXP) to new CFC account NXT-ZCLD-5TVW-HHAN-FVEJC. Sorry I missed out the fractional amount of 0.37611167 NXT ;D

2. Transferred remaining asset to CFC's Assets Holding & Forging account (NXT-6XTC-TG2L-DDKG-ELMYK)

3. Done an Account Name & Description change to reflect "closed" account and a public notification to send future transactions to the new CFC account.

4. Sent passphrase for CFC Assets Holding & Forging Account (NXT-6XTC-TG2L-DDKG-ELMYK) via encrypted non-prunable AM to account NXT-ZCLD-5TVW-HHAN-FVEJC.

5. Sent passphrase for NHZ account NHZ-2EEF-UDUV-44GY-HGXC3 (donation from AT project) via encrypted non-prunable AM to account NXT-ZCLD-5TVW-HHAN-FVEJC.
ED, please test & confirm you are able to assess both accounts.

Meanwhile, I await instructions to transfer TNSSE account NXT-3NE8-Z9ET-BC6A-5S79Y to a similar phasing account.

Hope everything is in order & thanks for trusting me to keep these funds safe all this while.

Cheers!

Pouncer

And from ED:

CFC peeps;

I've recieved 340,000 NXT from Pouncer, and made the first round of phased payments from the new CFC account (which I've named Constitution, just to carry on our Trekkie theme), see here for the details:
https://www.mynxt.info/account/NXT-ZCLD-5TVW-HHAN-FVEJC

The payments made were:

Peerexplorer:
NXT-ZQJ2-JZVT-QULL-5PEER
Donation to http://www.peerexplorer.com/ to cover costs for 2016.
50,000 NXT

Riker:
NXT-D2VW-PG95-WSMF-6FDL8
Riker: core dev salary #17.
105,000 NXT

ScripterRon:
NXT-YKDR-R624-MM4S-5ZKQK
One-off bounty for Nxt core development work.
100,000 NXT

TestDruif:
NXT-MXDU-UKS5-LC4C-FEW8Z
One-off bounty for Nxt core development/bug hunting.
50,000 NXT

EvilDave:
NXT-TMVC-69YC-SJB4-8YCH7
Nxt.org hosting costs, Oct 2015-March 2016.
6x €25: €150, or 21,500 NXT

Just waiting now for approval on the transactions, once this round has gone smoothly, we can organise movement of the bulk of the CFC funds onto Constitution, and the remaining administration.

The one payment that is still outstanding from CFC is for the 40,000 NXT translation bounties, I covered those from my own pocket, and will pull those back once we have the balance of CFC funds transferred.

Catch y'all later

ED



I've set up a new CFC holding and payments account:

NXT-ZCLD-5TVW-HHAN-FVEJC

under the mandatory control of:

Damelon;
NXT-D6K7-MLY6-98FM-FLL5T
ChuckOne:
NXT-4BTE-8Y4K-CDS2-6TB82

Only one approval needed, as my approval is implicit when I submit the tx.


« Last Edit: March 29, 2016, 12:00:55 pm by Cassius »
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farl4bit

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Thanks for the work Pouncer.  :)

EvilDave

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Been a long time since the last Community Funds update, happy to tell you guys/girl that we do still have a Community Fund, and haven't spent it all on Lambos  ;D

The current balances of the 2 remaining CFC accounts are:

Constitution (main spending account, under Account Control: EvilDave/ChuckOne/Damelon)
https://www.mynxt.info/account/NXT-ZCLD-5TVW-HHAN-FVEJC
484,472 NXT
1,153,458 ARDR

CFC Reserve Account (held by neer.g)
https://www.mynxt.info/account/NXT-CQ7X-95HR-RLW5-3UQ46
1,999,999 NXT
2,000,000 ARDR

there are a couple of other CFC-related accounts, holding a selection of assets, but not a very large amount.

As has been discussed elsewhere, we are working on re-organisation of both the Nxt Foundation and other community assets, including the CFC.
From 2014 up until the end of 2016, the Community Funds have been set aside and used for payments to the core developer team.
Now that the core devs have created a company to handle the IP rights for them, Jelurida B.V., the Community Funds no longer has to pay Nxt/Ardor core developers, though we will still have to pay for some external dev work on both the Nxt and Ardor public blockchains.

This frees up the Community funds to be used to support other Nxt/Ardor projects, and (after a lot of discussion between the CFC, Foundation and Jelurida ) we all think that the best way forward would be to allow the Nxt Foundation access to the Community Funds, to fund work/projects that will benefit the entire Nxt/Ardor community.

Up until now, the Foundation has been self-financing, and will continue to be so for as much as possible. However, having access to the Community Funds will allow the Foundation to concentrate on expanding it's marketing, promotion and business development activities.

The Nxt veterans among you will remember that there is a certain overlap between the Foundation and the Community Funds Committee: the CFC is myself (EvilDave), Damelon and ChuckOne, while the Foundation is currently myself, Damelon, Marenkar, LocoMB and alex0909. It has been tricky at times to keep the two functions separate, but I think we've done an OK job, so far.
Our proposal will not change the current set-up for holding and managing the Community Funds, just allow the Foundation to make direct use of the funds.

I think that this is a logical step forward for Nxt and Ardor, but we'd like to hear any objections, questions or feedback from the community....what do you lot think ?
« Last Edit: March 24, 2017, 11:31:56 pm by EvilDave »
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qq2536007339

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There is no forging and leasing on CFC Reserve Account,why?
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wolffang

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If its transparant where the funds are used for its okay for me.

I trust you guys and you are doing a great job already!
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